Kenanga remains long-term positive on Gas Malaysia

KUALA LUMPUR: Gas Malaysia Bhd's long-term earnings prospects remain intact despite a potential setback in 2QFY20 due to the movement control order, says Kenanga research.

"While we remain positive on its long-term earnings prospects given the RM1.80-2.00/mmbtu margin spread that will keep its earnings growing on the back of volume growth, we are cautious on near-term impact from the economy slowdown caused by the lockdown," it said, while reiterating its market perform recommendation.